Extraordinary guarantee for businesses in the accommodation and catering sector, travel agencies and tour operators

The purpose of the guarantee is to enable new financing for enterprises operating in the accommodation and catering sector, travel agencies and tour operators to overcome the temporary difficulties caused by the COVID-19 outbreak.

Applying for the extraordinary loan guarantee


The undertaking contacts the bank to obtain a loan


The bank makes a decision independently, pursuant to the authorisation granted to the bank


The bank grants the loan to the undertaking

The main terms and conditions

  • The undertaking was not an undertaking in difficulty as of 31.12.2019 or as of applying for the guarantee
  • The rate of guarantee is up to 100% of the secured loan, but no more than 700,000 euros per undertaking
  • The possible main areas of activity of an applicant qualifying for an emergency guarantee in the accommodation and catering sector, travel agencies and tour operators, are set out in the terms and conditions of service
  • The EMTAK code of the main area of activity in the commercial register usually indicates the activity of the loan applicant in the respective field of activity. If the EMTAK code entered in the commercial register differs from the above listed, but the loan applicant is still engaged in a field of activity that is a prerequisite for the implementation of the measure, the loan applicant may also use other evidence to prove this fact. In such a case, the appropriateness and sufficiency of the evidence will be assessed by KredEx
  • The interest rate of the guaranteed loan shall not be higher than the 6-month Euribor + 4% per year and the contract fee shall not be more than EUR 150
  • All the required tax returns and annual reports have been duly submitted as of the moment of applying for the loan
  • As of 12 March 2020, the undertaking has no overdue non-deferred arrears to credit institutions or tax arrears of state taxes, or these have been deferred
  • The estimated ratio between interest-bearing liabilities and EBITDA for the approved annual report for the financial year ended in 2018 or 2019 is lower than 10 based on EBITDA along with the additional loan
  • Loans guaranteed with the extraordinary guarantee are limited in total to an amount that does not exceed the amount of double salary expenditure for 2019 of the undertaking along with social tax
  • Refinancing a loan issued by a bank or a lessor is only permitted if the agreement of the loan being refinanced has been entered into after 12.03.2020 and it has a valid KredEx guarantee
Guarantee applications are being accepted until 31.05.2022.


Contact your bank to use the extraordinary guarantee

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